Approvals

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How can I get approved for a loan?

While we can't guarantee approval, there are clear steps you can take to improve your chances.

Keep your bank account steady

We don't check your FICO credit score. Instead, we look at your bank activity to understand your financial picture and whether a loan is manageable for you.

• Maintain a steady balance in your account
• Avoid frequent overdrafts or negative balances
• Show regular income and consistent spending habits

Link the account where you get paid

To verify income, we need to see where your paycheck is deposited. Linking your primary bank account helps us get an accurate view.

• Link the account where you receive direct deposits
• Wait to apply if you've recently switched banks. It helps to have at least three months of payroll deposits in your linked account.
• Make sure the account is in your name and shows recent deposits

Build a positive repayment history

Your borrowing history plays a role in our decision. On-time payments on past Possible loans can work in your favor. Having several active loans with other lenders may raise concerns about your ability to manage additional payments.

• On-time payments on past Possible loans
• A limited number of active loans from other lenders

Time your application

Your account balance at the time of application matters.

• Apply when your account has a positive balance
• Check for upcoming automatic payments or large expenses before applying

For more tips, watch how to improve your approval chances.

How can I get approved for a higher amount?

The amount you request gives us a target but isn't guaranteed. We evaluate your financial profile in real time to determine what's manageable for your situation.

Once your loan is issued, the amount can’t be changed but you may be able to qualify for a higher offer in the future by strengthening your financial profile.

Here’s what helps:

• Consistent income: Regular direct deposits to your linked account
• Healthy account activity: Positive balances and no overdrafts
• Positive repayment history: On-time payments on Possible Loans
• Limited recent borrowing: Fewer active loans or cash advances

Watch these videos to learn more tips to increase your loan amount or qualify for a more next time. 

How do I view my loan terms before accepting? 

When you're approved, you'll see a screen in the app showing your approved amount. From there, you can choose Accept This Offer or Cancel this loan.

Selecting Accept This Offer starts the process but doesn't commit you to the loan. You're not committed until you digitally sign the final agreement and choose Accept Your Loan.

Here's what to expect after tapping Accept This Offer:

1. Review your loan details. See the total cost of your loan, including how much you'll repay and when. 

1. Choose where to receive your funds. Select a direct deposit to your primary account or link the debit card associated with your primary bank account to get the money faster.

2. Review your Truth in Lending Act (TILA) disclosure. This shows your APR, any fees or interest, your loan amount and your total repayment amount.

    

4. Set up automatic payments. Learn how AutoPay works and choose whether to authorize electronic payments.
5. Answer a quick survey. Tell us a bit more about why you’re using Possible.
6. Sign your loan agreement. Once you sign and choose Accept Your Loan, your loan is confirmed.

Note for Plus plan customers: If you are in your free trial period, accepting a loan will end your trial and the paid monthly Plus plan will begin.

After that, we’ll send the funds to your selected account. Learn more about loan disbursements.

Can I increase my current loan amount?

Once you've accepted your loan agreement, we're unable to change the loan amount or terms.

If you haven't accepted your loan yet and believe your application would be stronger now, you can cancel and reapply. However, we can't guarantee that reapplying will result in a higher amount. Our system evaluates your financial profile at the time of each application.

If you've already accepted and are looking to borrow more in the future, a positive repayment history makes you more likely to be approved for a higher amount when you reapply after paying off your current loan. We can't guarantee approval or an increased amount. Learn more about strengthening your application.

Can I change my deposit account?

For security purposes, your loan funds must be sent to the bank account you used to apply. We're not able to disburse to a different account.

If you'd like to make payments from a different account, you can add a new bank account for payments after your funds have been deposited. Link your new account in the app.

When will I get my loan?

How quickly your funds arrive depends on the disbursement method you select.

• Instant Disbursement via Debit card (interchange): Most customers receive funds in seconds. In rare cases, delivery may take up to 24 hours.
• Standard Disbursement via ACH (bank transfer): Funds typically arrive in 1-2 business days, not including Saturdays, Sundays or bank holidays. ACH disbursements initiated on Friday or over the weekend may take until the following Tuesday due to bank processing schedules.
• Check: Arrives via mail in standard mailing times, estimated 7-10 business days.

If I chose ACH, how do I know if I'll receive it in 1 business day, or 2?

• If you accept your loan before 2pm PST, you will receive your money the next business day.
• If you accept your loan after 2pm PST, you will receive money in 2 business days. 

For example: 

• If you accept your loan on Thursday night or on Friday, your money will arrive on Monday.
• If you accept your loan over the weekend, it will be after 2pm on Friday, so your money will arrive on Tuesday.  

If you have a compatible debit card and you haven’t already chosen to receive your money by automatic bank deposit, or ACH, you can add your debit card to receive your money within an hour.

To do this, click on the option to add your debit card. Regardless of the day or time, you should receive your money within an hour with the debit card option. However, please keep in mind that sometimes delays occur and funds can take up to 24 hours to arrive.

Please note that if you are seeing an error while adding your debit card, you will need to use ACH to receive your funds.  

Things to keep in mind

An error in your bank account or routing number may delay your funds. Double-check the last 4 digits of the bank account number on file under the account management tab in the app

If you haven't received your funds by 5PM PST on the displayed arrival date, reach out to our customer success team using the Contact Us form in the app.

If there's an issue sending your funds, Possible will automatically reattempt and contact you if needed.

How do I know when I've received my loan disbursement? 

The transaction amount should match your loan disbursement and appear around the expected delivery time:

• ACH (or automatic deposits) disbursements arrive in 1-2 business days
  • Some banks allow for instantaneous ACH disbursements, known as Real Time Payments (RTP) so there is a chance your ACH disbursement could arrive sooner
• Debit card (or interchange) disbursements often arrive instantaneously, but may take up to 24 hours
• Check disbursements arrive via mail in standard mailing times (estimated 7 business days)

How to identify the deposit in your bank account:

The transaction description may vary depending on your disbursement method and your bank. Here are common descriptors to look for:

ACH disbursement

• "ACH" or "ACH Electronic Credit"
• If coming from Possible directly: "Possible Finance Payment" or "Possible Financial"
• If coming from Coastal Community Bank: may include "Coastal"
• Some banks support Real Time Payments (RTP), which can process ACH disbursements in seconds. If your bank supports RTP, your funds may arrive faster than the standard 1-2 business day window.
  • "Real time payment," "RTP" or "instant"
  • From Possible directly: "REAL TIME PAYMENT CREDIT RECD FROM ABA/CONTRA BNK-043000096 FROM: BNF- POSSIBLE FINANCIAL" or "Instant Pmt from POSSIBLE FINANCIAL INC"
  • From Coastal Community Bank: "HIP Credit RCVD from COASTAL COM" or "REAL TIME DEPOSIT - COASTAL COMMUNITY BANK"

Debit card disbursement

• "CARD SEATTLE WA" or "DEBIT CARD CREDIT CARD SEATTLE WA"
• May also reference Coastal bank, for example: "XX5974 POS CREDIT ADJ. 05/13 20:14 Coastal Community Everett WA"

In some cases, the deposit might even show up without “Possible” in the transaction name, so don’t worry if it looks unfamiliar at first as long as the transaction amount matches your expected disbursement amount.